Terra Luna Classic Completes Key Upgrade to Implement Tax2Gas: October 4, 2024, marked a significant milestone for the Terra Luna Classic (LUNC) community as they successfully completed a key upgrade to implement the Tax2Gas mechanism. This upgrade has been highly anticipated and is expected to bring several benefits to the network, including increased efficiency and reduced complexity for developers and users alike.
The Tax2Gas upgrade was proposed by Genuine Labs, a core development team for Terra Luna Classic. The proposal received overwhelming support from the community, with over 67% of validators and delegators voting in favor. The upgrade aims to simplify the process of calculating and handling the LUNC burn tax, which has been a point of contention within the community.
Previously, the LUNC burn tax had to be calculated manually, which added an extra layer of complexity for developers and users. The Tax2Gas mechanism integrates the tax into the gas fees, making it easier for developers to implement and for users to understand. This change is expected to streamline the network’s operations and improve overall efficiency.
The implementation of the Tax2Gas upgrade is seen as a crucial step towards the growth and sustainability of the Terra Luna Classic network. By reducing the complexity of the burn tax calculation, the upgrade is expected to encourage more developers to build on the platform and attract new users. This, in turn, could lead to increased adoption and a stronger ecosystem for the LUNC token.
The Terra Luna Classic community has been working tirelessly to address various challenges and improve the network’s infrastructure. The successful implementation of the Tax2Gas upgrade is a testament to their dedication and hard work. The community has also been actively engaging with stakeholders and addressing concerns to ensure a smooth transition to the new mechanism.
In addition to the Tax2Gas upgrade, the Terra Luna Classic community has been exploring other initiatives to enhance the network’s capabilities. These include plans to introduce new features and improve the overall user experience. The community’s proactive approach and commitment to innovation have been key factors in the network’s continued growth and success.
The completion of the Tax2Gas upgrade has generated a lot of excitement within the Terra Luna Classic community. Players and developers alike are looking forward to the benefits that the new mechanism will bring. The upgrade is expected to make the network more efficient and user-friendly, which could attract more users and developers to the platform.